Tradingviewindia
VGUARD at very interesting levels , if it BO then it can be 5X.VGUARD patterns look interesting,
We have to wait patiently for the Break Out which is 251.50 level,
Once it gives a BO it can give an amazing move upside.
> Patience is the key.
> Stock market is 10% Buying 10% selling and 80% waiting which is what successful trader/investors do.
NIFTY: Trend is in Downtrend After nearly a year long rally (24 march 20 to 16 Feb 2021), Nifty is in a downtrend. It has tried to test the upper band of the channel four times since then.
The bottom trend-line however has repeatedly been knocked at. The Red Candlesticks are all over since feb (i.e., Market opens high and closes with more than a 1% drop). March second half was brutal.
A retest of 14000, is imminent. Though its just a 5% drop from the current levels, 14000, would be the very key level before which big long side positions should be avoided.
LTTS looks very Bearish.> As we can see in the chart, the Channel pattern has been Broken down with a very good volume,
the Ascending Trend Line(TL) support was very strong as we can see Price took support from that
same TL 5 times in the past.
> After breaking the TL we can see the weakness in the candles, we can see huge rejection from the sellers.
> This is the right time to enter with SL above Tl.
> We will only enter when the risk is very low.
> Without discipline we will never be successful traders/investors, it plays a very important role in this carrier.
Best of luck everyone.
Keep focusing.